6th Sep 2022 10:15
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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Luceco PLC, up 14% at 88.70 pence, 12-month range 73.81p-487.50p. In six months ended June 30, posts pretax profit of GBP4.6 million, down sharply from GBP16.6 million the previous year. However, profit still up from pre-pandemic levels of GBP4.1 million. Explains this reflects more normalised markets following pandemic recovery, with demand continuing to be "very buoyant". Revenue dips to GBP106.4 million from GBP108.2 million but remains well ahead of the GBP82.7 million achieved in 2019. Interim dividend drops to 1.6p per share from 2.6p. Expects full-year earnings in line with current market expectations.
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Capital Ltd, up 6.8% at 88.40 pence, 12-month range 0.75p-88.80p. Nears 12-month high after wins expanded drilling services contract with B2Gold Corp at the Fekola gold mine in Mali. Contract includes the development and grade control drilling at the site and builds on an initial contract announced at the end of June. In addition, company buys 10 rigs and associated equipment from African Mining Services in order to deliver the new contract. Capital expenditure now expected between USD60 million and USD65 million in 2022. Full-year revenue guidance remains between USD280 million and USD290 million.
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SMALL-CAP - LOSERS
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EnQuest PLC, down 4.5% at 29.65 pence, 12-month range 16.90p-37.35p. In the six months ended June 30, revenue surges 82% to USD943.5 million from USD518.3 million as the company ups productions and sees average oil price per barrel jump against the previous year. Production rises 7.7% to 49,726 barrels of oil equivalent per day from 46,187 boepd. Average realised oil price jumps 43% to USD89.9 per barrel from USD62.8. However, costs of sales surge to USD585.6 million from USD333.3 million and operating costs rise to USD208.4 million form USD55.4 million as a result of the Golden Eagle acquisition in October. Full-year production expected between 44,000 boepd and 51,000 boepd. In 2021, average output was 44,415 boepd.
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By Heather Rydings; [email protected]
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